Public Ventures President Lou Basenese Joins Varney & Co. to discuss the markets and how Microsoft’s performance could affect tech and Amazon’s stock.
Amazon Prime members will no longer receive free shipping on some grocery orders starting next month.
Amazon Fresh orders under $150 will no longer qualify for free shipping.
Customers will be charged between $3.95 and $9.95, depending on the size of the order, the company said in an email to Prime members on Friday.
The new policy begins on February 28.
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An “Amazon Fresh” delivery truck is seen parked in Brooklyn, New York. (REUTERS/Brendan McDermid/Reuters Pictures)
The company currently offers members free grocery delivery on orders over $35, except in New York, where it’s $50.
“We will continue to offer convenient two-hour delivery windows for all orders, and customers in some areas will be able to choose a longer, six-hour delivery window for a reduced fee,” Amazon said in the email.
An Amazon employee delivers groceries from the Amazon Fresh service in the Brooklyn borough of New York. (REUTERS/Brendan McDermid/Reuters Pictures)
Prime has more than 200 million members worldwide who pay $139 per year or $14.99 per month.
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Under the new policy, the company said shipping fees will be $3.95 for orders between $100 and $150, $6.95 for orders from $50 to $100 and $9.95 for orders under $50. Amazon Fresh deliveries over $150 will remain free.
Amazon Fresh Pickup Store opens in Seattle, Washington’s Ballard neighborhood (iStock/iStock)
The move comes as the company looks to cut costs in the current economic environment.
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Amazon joined many companies this month, downsizing its workforce.
| Ticker | Security | Last | change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 102.24 | +3.02 | +3.04% |
The e-commerce giant announced that it had eliminated unprofitable areas of its business, halted hiring and laid off 18,000 employees.
The Associated Press contributed to this report.
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